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Our Company Ingredion Incorporated (together with its consolidated subsidiaries, the Company, Ingredion, we, us, and our ) is a leading global ingredient solutions provider that transforms grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. Our purpose is to bring the potential…
14.07% operating margin is respectable but not wide. ROIC at 12.88%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 2.8% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 55% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$7.20B
▼ -2.8% YoY
Net Income (TTM)
$674M
▲ +12.7% YoY
Op. Margin
13.10%
▲ +2.2pp YoY
ROIC
11.82%
▲ +2.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$449M
▼ -55.2% YoY
Op. Cash Flow (TTM)
$900M
▼ -34.3% YoY
Net Debt
$907M
Cash & Equiv.
$918M
5Y CAGR: +3.8%
5Y CAGR: +0.9%
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